https://www.taxtmi.com/caselaws?id=294631 A section 7 Insolvency and Bankruptcy Code application was held within limitation because the revival letter dated 31 January 2017 operated as an acknowledgment of liability under section 18 of the Limitation Act, 1963. The Second Amendment Agreement also restructured repayment and fixed 31 December 2015 as the first repayment date, so limitation had to be computed from the amended arrangement rather than the earlier date relied on by the Adjudicating Authority. The Tribunal noted that limitation is a mixed question of law and fact and that a petition should not be rejected on limitation where the bar is not apparent from the pleadings. The rejection on limitation was unsustainable and the matter was remitted for admission and further consideration. en-us Mon, 21 Sep 2020 00:00:00 +0530 Fri, 23 Apr 2021 21:03:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294631 A section 7 Insolvency and Bankruptcy Code application was held within limitation because the revival letter dated 31 January 2017 operated as an acknowledgment of liability under section 18 of the Limitation Act, 1963. The Second Amendment Agreement also restructured repayment and fixed 31 December 2015 as the first repayment date, so limitation had to be computed from the amended arrangement rather than the earlier date relied on by the Adjudicating Authority. The Tribunal noted that limitation is a mixed question of law and fact and that a petition should not be rejected on limitation where the bar is not apparent from the pleadings. The rejection on limitation was unsustainable and the matter was remitted for admission and further consideration. Case-Laws Insolvency and Bankruptcy Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294631